Post Office Schemes: To fulfil the demands of its customers, The Indian Post continues to offer a variety of schemes, some of which have appealing interest rates. The Post Office Tax Saving Schemes are one of these initiatives, which enables taxpayers to get tax exemptions by investing in various plans.
One such scheme is the Public Provident Fund, a small savings scheme that provides a rebate of up to Rs 1.5 lakh under Section 80C of Income Tax, along with an interest rate of 7.1 per cent. You can invest in this scheme for up to 15 years.
Another scheme is the National Savings Certificate, a five-year program that allows for a one-time investment of between Rs 1,000 to any amount according to your needs. With a return rate of 7.00 per cent, you can also receive a rebate of Rs 1.5 lakh under Section 80C of Income Tax.
The post office time deposit scheme allows for investments over one, two, three, or five years, with a maximum interest rate of 7.00 per cent over five years.
Investors can also consider the Sukanya Samriddhi Yojana, which offers an interest rate of 7.6 per cent and allows for investment until the girl child turns 21. You can avail of a deduction of up to Rs 1.5 lakh under Section 80C of Income Tax.
The Senior Citizen Saving Scheme (SCSS) is another popular program designed for senior citizens. With a tax rebate of up to Rs 1.5 lakh and an interest rate of 8.00 per cent, customers can invest between Rs 1,000 and Rs 30 lakh.
Read more: MSSC vs SSY: Which investment scheme offers better interest rate for women? Check details
